The methods in which Web3 will push loyalty
The demise of third-party cookies has made it increasingly more difficult for marketers to extend their grasp. More creative and cunning marketers have been seeking alternative modalities to further entrench themselves into customers' lives while furthering customer experience and rewards: Introducing Web3.
We have discussed in detail the basic outline of what Web3 is in this previous article, but here is a quick recap:
What is Web3 and how is it used to drive customer loyalty?
Web1: The first iteration of the internet, or simply Web1 was used to access information between networks that was heavily controlled and scrutinized due to its limited capacity. Back then, only a select handful of individuals possessed the power to edit content, let alone share it.
Web2: Came into being around 20 years ago and is still the world that we are heavily involved in. With the introduction of user-generated content, interactivity, and social media (Meta, Google, Apple, Microsoft, Amazon, etc.), the internet over the last 20 years opened instant access to goods and services (eCommerce) and immediate connections to socialize online.
Web3: Pushing the envelope further when it comes to ‘less restricted’ internet use, Web3 will allow users to tear off their proverbial ‘shackles’ by providing them with decentralized platforms with interoperability and transparency. This will be facilitated with the individual ownership of data through the means of a blockchain wallet.
What does Web3 loyalty entail?
In summary
As Web3 is still in its infancy and full of potential, brands are trying to capitalize on new and distinct ways to revitalize and reshape their loyalty programs by being a part of this paradigm shift. Albeit they are many challenges that lay ahead for this new landscape to be accepted into the mainstream, one thing is for sure is that Web3 has definitely changed our perceptions in how we view our individual participation on the internet.